Vitalik Buterin Raises to the Challenge of Scalability
Vitalik Buterin, one of Etherum’s founders, is one of the most prominent figures in the crypto world today. That’s why when he revealed another project via his Twitter account, a lot of people got instantly interested.
The name of the new project is Liquidity.Network and its main aim is to make the system infinitely scalable, which will allow the crypto to be incorporated into our daily lives. Right now the existing systems are very complicated and unreliable, but Buterin hopes to change this soon.
The new project of VItalik has already been named “trustless version of Paypal.” The main developer behind the Liquidity.Network is a blockchain expert Rami Khali.
Today more and more companies understand the huge benefits of distributed ledge technologies, but there are still some bottlenecks which prohibit further adoption. The main disadvantage of crypto payments used to be a very low number of transactions per second, especially when compared to widely accepted Visa or Mastercard, which can handle thousands of transactions at the same time.
Another problem of crypto, which is being tackled currently, is the problem of transaction fees, which sometimes make crypto unsuitable for micropayments.